Descending triangle - Short term Bull, longer term BearSeems to be trading in a descending triangle pattern using $118 resistance level as the base.
I think we go up to the upper trend line at least one more time before the pattern completes.
NVD trade ideas
Nvidia $NVDA to $97-$102 by August 16th - PUT$!Nvidia NASDAQ:NVDA , the A.I. Behemoth, and darling of the 2024 hype-cycle... POP!
With this -6% fall, NVDA has broken below that line of short term support. In my mind, this break has just solidified the 2nd WAVE to the downside.
I believe we'll experience some support around NVDA's 50-day moving average (-2.7%), but I stand behind my thesis that Nvidia stock falls to $102 by mid-august. It may even fall as low as $97 in order to re-test those prior March-April ceilings as new floors.
Always remember... You can fall A LOT faster than you can climb.
Our 8/16 $110 NVDA puts over at WAVE$ Capital are up +95% at the time of writing, and I think that they're just getting warmed up.
NVIDIA Up Again Soon?I don't think so, but keep an open mind. I heard a week ago Nancy Pelosi bought more, lol.
NVDA LongSemis down on rumors that Biden administration will be cutting down on chip exports to China.
Last time this occurred, semis shrugged it off in coming weeks.
Hoping for bounce at this multi-tested low. Tight stop, as confirmation of double-top formation could send the stock down to $105 levels.
Nvidia Climbs 155% While Facing AI Ethical CriticismNvidia remains a significant player in the AI industry, grouped with companies like Apple and Anthropic, which have been criticized for training their AI technologies by extracting subtitles from 173,536 YouTube videos across over 48,000 channels, including content from notable creators such as MrBeast and PewDiePie. This practice violates YouTube's terms by using content without creator consent, posing legal and ethical issues.
Financially, Nvidia's stock experienced a substantial 86% rise from mid-April to June, followed by a stabilization period with prices oscillating between $117 and $140. Despite this slowdown, the company's year-to-date growth is impressive at 155%, with a potential for stock values to climb past $150 if demand for AI continues to surge.
The ongoing ethical debate around AI data usage underscores the importance of regulatory compliance and maintaining trust in the tech industry's use of content. This dialogue is crucial for shaping future AI governance.
NVDA Bear FlagNVDA broke down and starting consolidating in what looks like to be a bear flag. Measured move puts it at 101.52, which is slightly below the 50 day SMA and slightly above the 20 week SMA.
Watch for RSI to get to oversold levels. I think we will bottom there (if it happens).
NVDA Retesting Symmetrical Pennant BreakoutNVDA broke out of the symmetrical pennant and reached its PT of 135.
It rejected off it with today's CPI data. The data was good and increased the odds of a September rate cut, so I'm viewing this move down as a fakeout to the downside.
Price is currently testing from above the 20 SMA on the daily chart. I think we will bottom here and go to new highs soon.
Megacaps vs Small Caps: Has Nvidia Done This Before?Nvidia has embodied the megacap growth trend for more than a year. Now there could be signs of sentiment shifting -- at least for a little while.
Today’s idea uses two charts to consider potential changes in market conditions.
First, Jensen Huang’s semiconductor giant showed some potentially similar patterns in March and June. Both times, it jumped to a record high on strong results and peaked a few weeks later. Both tops had bearish outside days followed by lower highs. Then periods of consolidation set in.
MACD also turned lower and Wilder’s Relative Strength Index (RSI) slid from overbought conditions.
NVDA bottomed 29 sessions after its March 8 reversal day. If a similar period applies this time, it could suggest sideways movement will last through the start of August.
In the meantime, traders seem to be focusing on small caps and cyclical sectors like financials and industrials . That brings us to the second chart, a ratio of the Russell 2000 against the Nasdaq-100.
It clearly shows small caps’ relative underperformance, which began in mid-2006.
The lower study reveals that the ratio jumped 11.65 percent in the last two weeks. That’s the biggest two-week gain since 2002. Some chart watchers may also notice the ratio’s bullish outside candle after hitting an all-time low. Those patterns could also suggest a bottom has occurred.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
Nvidia 1W Forecast until end of September 2024Old trend begging for correction.
To stay healthy it needs a decent rest no shorter than a month bottoming at 103-ish.
In the end of August it may resume to move up, but printing a lower high peaking in the end of September at 117.
Nothing panicky about $NVDA so far.The chart does seem overextended, but I view it as a return to normality rather than panic selling.
In fact, the entire market appears to be a "return to the mean" kind of market. What used to work, the Magnificent 7, has decreased slightly, but all the other 493 stocks are up.
It's an overdue correction of an extended market.
Notice the change in colour on my graph from blue to white a few weeks ago, which warned us about the decrease in bulls' power.
Key points to watch for
The first line of defence - $114
The second line of defence -$98
If you break the second level you are entitled to panic, until then look for other opportunities in the market. They seemed to be plenty now.
If you want the indicator described, send me a message.
Nothing panicky about $NVDA so far.
The chart does seem overextended, but I view it as a return to normality rather than panic selling.
It's an overdue correction of an extended market.
Notice the change in colour on my graph from blue to white a few weeks ago, which warned us about the decrease in bulls' power.
Key points to watch for
The first line of defence - $114
The second line of defence -$98
If you break the second level you are entitled to panic, until then look for other opportunities in the market. They seemed to be plenty now.
If you want the indicator described, send me a message.
Gaming the Market: Shorting NVDA a Power Play?Trade:
Entry: Short layered in around 132, w/ stop loss at 142
Profit target: 97
Levels of Interest:
Gap (95-100) in IPDA 60
.61 Fib retracement to same gap area.
Making its mark back to 130 on the solid trendlineWhether the momentum continues with other stocks, the market air or the fact that it's back to business after an eventful 4th of July. I'm seeing all the signs of bullish sentiment.
NVIDIA _ Corporation _ Under _ Trading _ Venue _ NASDAQ. NVIDIA _ Corporation _ Under _ Trading _ Venue _ NASDAQ.
For one who asked for trading strategy, please note the following:
(1) I don't do YouTube, Website, SMS, WhatsApp, Telegram or any kind! Real trader in my view is very rare and the real one only few I can qualify as a trader.
(2) I do not do teach ,this is not something can be thought, this doesn't mean I do not want you to learn its simply not possible as I do not use software, or any-kind, or books etc, I do everything manually and read numbers and calculate the data.
(3) Just ask if you need a help and I will do my best to have a spare time to give the one who need how to structure their trading portfolio.
Now lets Breakdown NVIDIA step by step!
$129.69
$132.00
$135.90
$137.62
$138.47
$138.89
$140.04 follow by $140.024
Chart Pattern Analysis Of NVDA
K3 break up the ice line,
It verified a fact that the supply pressure had been totally absorbed.
The support at 118 USD is solid.
So, it is likely that a larger scale consolidation is on the way,
It will push the price up to test the upper price area of 134-140 USD.
Or, another bull run had started from K3.
This is a first good place to buy in.
I will establish a tentative long positions at K3.
Long-126.5/Stop-124/Target-140
NVDA: Trading Near Key Support Levels (D&W charts).The chart for NVDA reveals key levels and patterns that that could change the game for it.
On the daily chart, NVDA is currently trading within a defined range, with resistance around $140.76 and support near $118.04, between the ATH and its key support level. This consolidation phase comes after a strong uptrend, suggesting the market is taking a breather before potentially making its next significant move.
However, the bias is slightly bullish, as the 21-day EMA is still acting as a support level today. Any bullish reaction around this EMA would be interesting.
On the weekly chart, the $118.04 level is highlighted as a main support level and a possible bearish pivot point. This level is also observed on the daily chart, reinforcing its significance.
If the price breaks below this support, it could signal the beginning of a bearish phase, with the next major support around the $97.40 level, which aligns with the top of the previous consolidation phase before the latest rally. The weekly chart also shows that the price is still above the 21-week EMA, indicating the overall long-term trend remains bullish despite the recent consolidation.
To summarize, NVDA is currently in a consolidation phase within a well-defined range on the daily chart, with resistance at $140.76 (ATH) and support at $118.04. The bias is still bullish as the price is still above the 21-day EMA, however, if we lose this key support level, NVDA will lose momentum. In order to trigger a bear trend, it needs to lose the $118.04.
We should watch for a breakout above the resistance for bullish confirmation or a breakdown below the support for a potential bearish move. Until then, range-bound trading strategies may be effective, focusing on buying near support and maybe selling near resistance. Be careful selling NVDA, as it is a bull trend, after all.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Nvidia - History repeating itself?I drew the first leg of the trend and then copied the first leg and pasted it over our current trend. Is Nvidia history repeating the trend again?
Be prepared for a sharp drop in NVIDIA stock.There is good reasons to be careful in the stock market going forward for a while, and there are still no trees or shares that have grown all the way up into the sky. Although some stocks are starting to come pretty close now to making it.
Technical Analysis of NVIDIA Corporation (ticker on Nasdaq: NVDA)
NVIDIA Corp. (NVDA) is in a long-term rising trend (cf. weekly chart) and the share is now meeting technical resistance against the upper trend line in this long-term rising trend.
At the same time, various momentum indicators (in the weekly chart) and such as Stochastics, RSI and MACD now signal that the share is likely to face a downward correction in the short and medium term
In the event of a downward correction, there is now little technical support for the share, and a correction can thus be significant.
According to the long-term rising trend, the stock is now right up against the resistance level at the upper trend line of this long-term rising trend.
Yes, according to this long-term upward trend, the overall technical picture for the stock now indicates that it may well get a correction down towards the lower trend line in this upward trend, and down towards USD 35.00 - 50.00 during the next 3- 9 months.
The share is currently trading at around USD 127.00, and it may thus be heading for a sharp downward correction for the NVIDIA share over the next 3-9 months.
This is what the technical picture for the share now signals, and it is, as I said here, a picture that repeats itself among several of the largest IT companies now and for the stock market index Nasdaq Composite, that a major downward correction may be imminent.
It may sound extreme that some of the world's largest companies may see their shares correct sharply downwards and perhaps fall 30-70% within 3-9 months, but also remember that several of these shares have between 5-10 doubled itself during just the past two years.
It is typical for the stock market to 'exaggerate' both on the upside and on the downside, and hence very strong fluctuations on the stock exchange and individual shares.
Nvda being squeezedNvda is being squeezed which is forming a nice bull pennant. I expect it to break upwards and reach new highs within the coming weeks. The stock is bouncing off of the trendline and it could be up from here.
NVDA Breakdown Short IdeaNVDA looking weak on the daily charts and flushing down on the hourly charts here. This suggests a nice near term short trade idea.
NVDA at the bottom of parallel channelNVDA parallel channel analysis. This analysis is for informational purposes only.
NVDA Looks Good For Higher PricesLooking good for higher now that we are trading above the POC. We need to flip the VWAP into support next to really aim for the VAH (White Line).
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
This is not financial advice. This is for educational purposes only.
NVDA at Critical Support Ahead of PowellThings were looking quite bullish this morning and still could be, but we're seeing a spike in volatility here leading into Powell's speech. I think it could easily go either way. Very simple trade idea for NVDA. It's right at support and I doubt it stays here for long.
Whichever direction it chooses, NQ will likely follow. I'm sort of getting a bad feeling for bulls, but that's just a feeling. Closing positions and waiting for Powell. Looks like we're gearing up for a big move, which is not what I expected so maybe not. I wouldn't think Powell is going to say anything significant, but being cautious just in case.
